Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) Shares Gap Up – Still a Buy?

Shares of Direxion Daily Small Cap Bull 3X Shares (NYSEARCA:TNA) gapped up prior to trading on Monday . The stock had previously closed at $27.70, but opened at $30.96. Direxion Daily Small Cap Bull 3X Shares shares last traded at $30.65, with a volume of 5,259,475 shares traded.

Direxion Daily Small Cap Bull 3X Shares Trading Up 10.2%

The company has a 50 day moving average price of $27.00 and a 200 day moving average price of $39.23. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 17.29 and a beta of 3.37.

Hedge Funds Weigh In On Direxion Daily Small Cap Bull 3X Shares

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its position in Direxion Daily Small Cap Bull 3X Shares by 402.3% in the 4th quarter. Bank of America Corp DE now owns 874 shares of the exchange traded fund’s stock worth $37,000 after purchasing an additional 700 shares during the period. Bernard Wealth Management Corp. purchased a new position in Direxion Daily Small Cap Bull 3X Shares during the fourth quarter worth about $38,000. Copia Wealth Management boosted its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 135.2% in the 1st quarter. Copia Wealth Management now owns 1,249 shares of the exchange traded fund’s stock valued at $37,000 after buying an additional 718 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Direxion Daily Small Cap Bull 3X Shares by 154.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,525 shares of the exchange traded fund’s stock valued at $64,000 after purchasing an additional 925 shares in the last quarter. Finally, Canton Hathaway LLC purchased a new stake in Direxion Daily Small Cap Bull 3X Shares during the first quarter worth approximately $120,000.

Direxion Daily Small Cap Bull 3X Shares Company Profile

Direxion Daily Small Cap Bull 3X Shares (the Fund), formerly Direxion Small Cap Bull 3X Shares, seeks daily investment results of 300% of the price performance of the Russell 2000 Index (the Small Cap Index). The Small Cap Index measures the performance of the small-cap segment of the United States equity universe, and consists of the smallest 2,000 companies in the Russell 3000 Index, representing approximately 10% of the total market capitalization of the Russell 3000 Index.